7 Best Gold IRA Companies 2023 (Ranked by customer reviews)

If you want to diversify your financial portfolio, gold IRAs are a low-risk investment option that is very profitable for many investors. Our team combed through pages of reviews of the top gold IRA companies to find the best ones to invest in during 2023.

Gold individual retirement accounts (IRAs) are a type of self-directed IRA account that allow investors to put their retirement in reliable, tangible precious metals and valuables.

Gold IRA companies help investors source qualifying goods, find secure, compliant storage and manage account rollover.

Of the many gold IRA companies, these seven are the most reputable, trustworthy options for investors in the coming year.

Top 7 Best Gold IRA Companies

1. Augusta Precious Metals – Editors’ choice
2. Goldco – Best pricing
3. Noble Gold Investments – Best for beginners
4. Birch Gold Group – Best fee structure
5. American Hartford Gold – Best customer support
6. Advantage Gold – Best for first-time buyers
7. Oxford Gold Group – Best customer experience

Methodology

When deciding which gold IRA companies to recommend, we looked primarily at the following criteria:

• Better business bureau (BBB) rating: We only considered companies with BBB ratings of A+.
• Verified third-party reviews: To avoid bias, we looked at reviews from companies such as TrustPilot and other third-party sites, not just reviews from the company’s website.
• Promotions: We looked for the best investment opportunities for new account holders and beginners. These should have promotions and extra support for those investing in gold for the first time.
• Years in business: Low-quality companies will not last long in a competitive market. We looked for reliable companies that have years of expertise and practice.
• Customer reviews: We chose companies that had a large number of positive reviews from customers, not those with just a handful of comments.
• Leadership: We looked for companies headed by experienced, passionate leadership. A company is only as good as those who head it, so we wanted to ensure we only included companies with trusted, reputable leaders.

Gold IRA Reviews

After looking through countless companies, reviews and fee structures, these are the best gold IRA companies to invest in during the 2023 fiscal year. These companies meet and exceed the criteria laid out in our methodology and have many five-star, reliable customer reviews.

Augusta Precious Metals – Editors’ Choice

Augusta Precious Metals is a family-owned business that was founded in 2012. The company is committed to transparency, simplicity and excellent service. In addition to an A+ rating from the BBB, the Business Consumer Alliance rated Augusta Precious Metals at an AAA.

Company Highlights

• Location: Beverly Hills, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver
• BBB Rating: A+ Rating
• Fees: $180/year
• Investment Minimum: $50,000
• Promotion: Fees waives (depending on investment amount)

Why we chose Augusta: We chose Augusta Precious Metals for its outstanding customer support, solid reputation and strong business leadership.

Goldco – Best Pricing

Goldco was founded in 2011 and has since handed more than $1 billion in gold and silver investments. The company works with most major IRA custodians and supports gold and silver investments.

Goldco has one of the industry’s lowest account set-up fees, with a one-time account setup fee of just $50. Additionally, its storage fees start at just $100.

Company Highlights

• Location: Calabasas, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver
• BBB Rating: A+
• Fees: $175-$225/year
• Investment Minimum: $25,000
• Promotion: 5% off of a purchase of more than $50,000 more

Why we chose Goldco: We chose Goldco for its top-tier customer service, low fees and excellent buyback program.

Noble Gold Investments – Best for Beginners

Colin Plume founded Noble Gold Investments in 2016. The company is committed to ensuring that every investor understands every aspect of their investment. Noble Gold has an annual service fee of $80 and a $150 annual storage fee.

Noble Gold also offers an investment minimum that is low enough that you will not need to roll over another investment portfolio to open an account. If you want to invest in a gold IRA, but don’t have another account you can use for financing, Noble Gold is likely your best option.

Company Highlights

• Location: Encino, California
• Services: gold IRA, silver IRA, Royal Survival Packs, physical gold and silver
• Available Metals: gold, silver, platinum, palladium, rare coins
• BBB Rating: A+
• Fees: $225/year
• Investment Minimum: $2,000
• Promotion: Buyback of metals guarantee

Why we chose Noble Gold: The low investment minimum on their accounts, commitment to education and secure investment make Noble Gold a perfect choice for anyone new to gold IRAs.

Birch Gold Group – Best Fee Structure

Birch Gold Group is one of the largest precious metal dealers in the U.S. It was founded in 2003 and has nearly two decades of experience dealing with precious metals investments.

Birch Gold Group will cover your first year’s fees if you have an initial investment of more than $50,000. After that, you will pay an annual $100 storage fee and $80 management fee. Birch Gold Group has one of the lowest account opening fees of just $50.

Company Highlights

• Location: Burbank, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver, platinum, palladium
• BBB Rating: A+
• Fees: $180/year
• Investment Minimum: $10,000
• Promotion: First-year fees waived (for accounts with over $50,000)

Why we chose Birch Gold: Birch Gold Group allows for extra diversification because it offers gold, silver and platinum accounts. Additionally, it will waive its already below-average fees if you invest more than $50k.

American Hartford Gold – Best Customer Support

Since 2015, American Hartford Gold’s transparent pricing structure and low minimums have helped it serve thousands of investors across the U.S.

Leadership at American Hartford Gold is committed to fair pricing and quality service. The company has some of the lowest management fees in the industry and some of the highest-quality service.

American Hartford Gold also has a low minimum investment. This low minimum allows investors to open an account without rolling over from another investment account.

Company Highlights

• Location: Los Angeles, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver
• BBB Rating: A+
• Fees: $150/year
• Investment Minimum: $10,000
• Promotion: Receive up to $10,000 in free silver (with qualifying purchase)

Why we chose American Hartford Gold: American Hartford Gold has high-quality customer service. This, combined with its price match guarantee and buyback offer, demonstrates the company’s commitment to its values.

Advantage Gold – Best for First-time Buyers

Kirill Zagalsky and Adam Baratta worked at another gold investment company before leaving because they knew they could create a company that better-honored investors, so they left their previous organization to create Advantage Gold.

Advantage Gold provides customers with the information they need to make the right choices for their retirement portfolios. Advantage Gold offers customers extra flexibility by hosting investments in all four significant precious metal investments.

Company Highlights

• Location: Los Angeles, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver, platinum, palladium
• BBB Rating: A+
• Fees: $225/year
• Investment Minimum: $25,000
• Promotion: First-year fees are waived with a $50,000 purchase

Why we chose Advantage Gold: High-quality educational materials, various investment options and strong expertise make Advantage Gold one of the best options for beginners.

Oxford Gold Group – Best Customer Experience

Since 2017, Oxford Gold Group has committed to increasing the accessibility of precious metals investing. It knows that the wealthiest investors have historically been privy to the highest-quality investments, and the company is committed to changing this.

Oxford Gold Group has held to this claim. It has one of the lowest minimum investments of any gold IRA investment company. Scaling fees to investments makes for a high-quality customer experience with Oxford Gold Group.

The company also offers investments in all four primary precious metals, giving customers extra flexibility.

Company Highlights

• Location: Beverly Hills, California
• Services: gold IRA, silver IRA, physical gold and silver
• Available Metals: gold, silver, platinum, palladium
• BBB Rating: A+
• Fees: $175-$225/year
• Investment Minimum: $7,500
• Promotion: N/A

Why we chose Oxford Gold: Oxford Gold Group allows investors to look at their portfolios online. It also has a relatively low minimum investment and offers a diverse array of precious metal options.

Gold IRA Guide

Gold IRAs are a type of self-directed IRA that allow investors to diversify their retirement portfolio to include traded valuables, real estate, precious metals and more. These accounts are one of the only retirement account types that do not limit investors to paper assets.

Gold IRAs follow all the same rules of self-directed IRAs, but have a few additional different rules. These include:

• Strict storage requirements for valuables.
• The account must be separate from other stocks and assets, such as a Roth IRA investment.
• Only approves certain types of precious metals, collectibles and other valuables, such as American Eagle coins.
• Investors must purchase gold and other valuables through a custodian; customers cannot add gold they already own to a gold IRA.

Understanding Gold IRAs

When you’re considering investing in a gold IRA, there are some things that you should know before you commit to a company.

Scam awareness – Many false companies operate investment scams. It’s essential to look for a reputable business with positive third-party reviews. Watch out for investments that advertise an at-home or home-storage IRA.

Home storage of valuables for a gold IRA is illegal. Any company advertising this service is not one that you should trust.

New gold IRA investments – Gold IRAs follow the same rules as other self-directed IRAs. Self-directed IRA rules mean that there are investment limits each year. For 2022, this number is $6k if you are under 50 and $7k if you are 50 or older.

Many gold IRA accounts require significant minimum investments, far above this yearly maximum investment limit, before you will have to pay a tax penalty. This means that, in most cases, you must use a rollover from a regular IRA to open a gold IRA.

Fees and payments – Gold IRA investments have higher fees than traditional stock market investment options. These fees come from sourcing IRS-approved coins, paying for secure storage that complies with IRS regulations and account setups.

Gold IRA Fees & Costs

• Account setup fees: Account set-up fees are generally one-time fees that you pay when you initiate your account. These fees are usually in the range of $50-$150.
• Custodial fees: Custodial fees (also known as administrative fees) are usually annual fees. Typically, these fees range from $50-$150.
• Storage fees: Storage fees are charged by the depository holding your valuables. These fees are usually $50-$300 annually.
• Spot price markup: The spot price is the market price when you agree to the purchase, and the markup covers the costs associated with obtaining the valuables. For most gold IRAs, the spot price is about 10% of the gold’s value, though this can often fluctuate, particularly if you purchase in bulk.

Gold IRA Storage Options

Investors must store precious metal IRAs in an IRS-approved option. You cannot keep your gold in your home or a safety deposit box. The IRS approves many third-party options for gold and precious metal storage.

Here are some of the most commonly used storage options:

• Brinks Global Services: Brinks Global Services offers high-quality, secure logistics, making them a popular storage option for many gold IRA investors.
• Delaware Depository Service Company: The Delaware Depository is a precious metals custody expert with over two decades of experience protecting and maintaining gold investments.
• International Depository Services: International Depository Services is an IRS-approved storage option for precious metals in a gold IRA. The company has virtually every accreditation available to a depository and has storage available in the U.S. and Canada.
• HSBC Bank: HSBC has more than 150 years of experience in the precious metals market and is one of the most reliable storage options for gold IRA investing.

There are two types of approved storage options:

• Segregated storage: With segregated storage, the storage management company will ensure that you receive precisely what you put in. For example, if you place three gold bars in storage, you could mark those gold bars to ensure you receive those same bars back.
• Co-mingled storage: In co-mingled storage, you will receive the exact number of valuables you put in, but you may not receive the exact metals. You may receive another identical piece of investment when you cash out.

Before you invest in a gold IRA, make sure you know which storage option you or your investment company will use.

IRA Eligible Gold Bullion Coins & Bars

The IRA has strict requirements for what is eligible for a gold IRA. These are the most commonly used IRA-approved bullion and coins.

Gold

• Gold American Eagles Coins
• American Gold Buffalo Coins
• Austrian Gold Philharmonic Coins
• Australian Gold Kangaroo Coins
• Canadian Gold Maple Leaf Coins
• Chinese Panda Coins
• Gold Bars Coins

Silver

Silver bullion and coins must have a minimum fineness of 0.999 to qualify for an IRA investment. These are some of the most common choices:

• American Silver Eagle Coins
• Chinese Panda Silver Coins
• Silver Britannia Coins
• Canadian Maple Leaf Coins
• Silver bars from the Royal Canadian Mint

Platinum

Platinum bullion must have a minimum fineness of 0.9995 to qualify as a gold IRA investment. Some of the most common choices for platinum investments are:

• American Eagle Platinum Coins
• Australian Koala Platinum Coins
• Canadian Platinum Maple Leaf Coins
• Isle of Man Platinum Coins

Palladium

Palladium bullion must have a minimum fineness of 0.9995 to qualify as a gold IRA investment. Some of the most common ways to add palladium to a gold IRA are using:

• Suisse Palladium Bars
• Palladium Canadian Maple Leaf Coins
• American Eagle Palladium Coins

How to Pick The Right Precious Metals IRA Company

When it comes to your retirement investments and savings for your future, you must choose the safest, most reliable options for your money. Here are a few things you can do to ensure you’re selecting the best choice.

• A gold IRA company should have several years in service with many reviews and a high rating from consumer protection agencies.
• Avoid any gold IRA companies that advertise at-home storage of gold, as they are likely to be scams.
• Look for transparent pricing and fee structures. You should know exactly how much you will pay before you agree to any investment.
• Compare your chosen investment company with others. Look for competitive pricing options to make the most of your investment.

How to Open a Gold IRA Account

When you decide that you’re ready to open a gold IRA account, you should follow these steps to protect your investment:

1. Choose your preferred precious metals dealer: The top gold IRA companies from this list are all excellent options, but which one you decide to use will depend on your finances and preferences.
2. Check their eligibility requirements and investment minimums: Many gold IRA providers have investment minimums. You will need at least this investment minimum in another account to roll over and hit this minimum.
3. Request their free guide: Highly reputable gold IRA companies should have plenty of educational resources available.
4. Speak to an IRA specialist: An IRA specialist will give you financial advice to help ensure that you are using an approved depository, qualifying metals and maximizing tax benefits.
5. Decide how you are going to invest (i.e., 401(k), IRA, cash): If you want to invest more than the annual maximum, you will need to choose which of your qualifying retirement accounts you wish to use to purchase your new investment.
6. Begin rollover process or fund your account: Unless you use a cash investment below the IRS maximum contribution limit, you will need to use money from another retirement account to roll over into your gold IRA.
7. Purchase precious metals: You may buy gold, silver, platinum or palladium for your investment portfolio.
8. Complete the transaction or rollover process: Your chosen gold IRA custodian will guide you through the finalization of your purchase.
9. Watch your investments grow tax-free: Over the last five years (as of 2022), gold has increased in value by more than 35%, far outperforming the S&P 500.

Which Gold IRA Company is Best for You?

Diversifying your portfolio by investing in gold and other precious metals is an ideal option as these items are less susceptible to volatility and market fluctuations, which makes them a solid investment for retirement savings. They are reliable investments for uncertain futures.

Gold has a stable value that is likely to continue to rise in the future but has decreased in price in the last two years.

You should ensure you understand the purchasing and liquidation process before finalizing your investment. By choosing a reputable gold IRA company with good customer reviews, you can ensure that your investment will provide you with financial stability during retirement.

Gold IRA Companies FAQs

These are the most commonly asked questions about gold IRA investment companies.

Frequently Asked Questions

Can I place gold in my IRA account?

The answer is yes It is possible to add gold to your retirement plans. Because it doesn't lose any value over time, gold is a great investment. It is also immune to inflation. It is also exempt from taxes.

Before you invest in gold, make sure to understand its differences from other investments. You cannot purchase shares of gold companies like bonds and stocks. You cannot also sell them.

Instead, convert your precious metals to cash. This means you will need to get rid. You can't just hold onto it.

This is what makes gold unique from other investments. Similar to other investments, gold can be sold at any time. This is not true for gold.

You can't even use your gold as collateral to get loans. You may have to part with some of your gold if you take out mortgages.

What does all this mean? It's not possible to keep your gold for ever. It will eventually have to be converted into cash.

There's no need to be concerned about this right now. Open an IRA account. After that, you can start investing in gold.

What is a Precious Metal IRA and How Can You Benefit From It?

Precious Metals are a great way to invest in retirement funds. They are a timeless investment that has held its value since the beginning of time. Investing in precious metals such as gold, silver, and platinum is also a great way to diversify your portfolio and protect against inflation.

Certain countries even allow their citizens to save money in foreign currencies. You can buy gold bars in Canada and keep them at home. You can also sell these gold bars for Canadian dollar when you visit family.

This is a very easy way to invest in precious metals. It's especially useful if you live outside of North America.

Are you able to keep precious metals in your IRA?

The answer to that question will depend on whether the IRA owner plans to diversify his holdings to gold and/or keep them safekeeping.

Two options are available for him if diversification is something he desires. He could purchase physical bars of gold or silver from a dealer and then sell these items to him at the end. Let's say he doesn’t want to sell back his precious metal investment. In such a case, he should not sell his precious metal investments. They would be perfect for storing in an IRA account.

How to Open a Precious Metal IRA?

You can open an IRA in precious metals by opening a Roth Individual Retirement Account (IRA), which you can self-direct.

This account is more advantageous than other types of IRAs, because you don’t have to pay taxes on any interest earned from your investments until they are withdrawn.

People who are looking to save money and still need a tax break will find it attractive.

You do not have to only invest in gold and silver. You can invest in whatever you like, provided it conforms to IRS guidelines.

Many people think only of silver and gold when they hear the word “precious metallic” but there are other types.

There are many examples: palladium; platinum; rhodium; osmium; iridium; ruthenium.

There are several ways you can invest in precious metals. These include purchasing bullion coins and bars, as well as shares in mining companies.

Bullion Coins, Bars

One of the most straightforward ways to invest is to buy bullion coin and bars. Bullion is a general term that describes physical ounces, or physical gold and silver.

You get actual bullion bars and coins when you purchase bullion coins.

Although you may not be able to see any change immediately after purchasing bullion bars and coins at a shop, you will soon notice some positive effects.

For example, you will get a tangible piece of history. Each coin and bar has its own unique story behind it.

It is often worth less than its nominal price if you examine the face value. In 1986, the American Eagle Silver Coin was $1.00 per ounce. However, today, an American Eagle Silver Coin is more than $40.00 per Ounce.

Bullion's price has risen dramatically since its inception, so many investors would rather invest in bullion coins than futures.

Mining Companies

For those who want to purchase precious metals, another option is investing in shares of mining companies. You're investing in the company’s ability to produce precious metals.

In return, you will receive dividends based on the company's profits. These dividends are then used to pay shareholders.

The company's growth potential will also be of benefit to you. The share prices of the company should rise as more people buy the product.

It is crucial to diversify your portfolio because these stocks are subject to price fluctuations. This means spreading your risk across multiple companies.

However, mining companies are not immune to financial loss just like any stock-market investment.

If gold prices drop significantly, your share of ownership could be worthless.

The Bottom Line

Precious Metals such as gold or silver offer a safe haven in times of economic uncertainty.

However, both gold and silver are subject to wild swings in price. A precious metals IRA account is a good option for long-term investment.

You will be able to take advantage of tax incentives while also benefiting from physical assets.

What are the 3 types of IRA?

There are three types: Roth, Traditional, and SEP. Traditional, Roth, and SEP. Each type offers its advantages and disadvantages. We'll go over each of them below.

Traditional Individual Retirement Accounts (IRA)

A traditional IRA allows you contribute pretax money to an account which can be used to defer taxes and earn interest. The account can be withdrawn tax-free once you are retired.

Roth IRA

Roth IRAs allow for you to make after-tax deposits into an account. The earnings are tax-free. Withdrawals from the account are also tax-free when you withdraw funds for retirement purposes.

SEP IRA

This is similar in structure to a Roth IRA. However, employees will need to make additional contributions. These additional contributions can be taxed. However, any earnings are now tax-deferred. When you leave the company the whole amount may be converted to a Roth IRA.

Statistics

• SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
• The IRS also allows American Eagle coins, even though they do not meet gold's 99.5% purity standard. (forbes.com)
• If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
• You can only purchase gold bars of at least 99.5% purity. (forbes.com)

External Links

takemetothesite.com

• Protect and Secure Your Retirement Savings Now!
  

en.wikipedia.org

• Wikipedia: Taxpayer Relief Bill of 1997
  

wsj.com

• Want to Keep Gold in Your IRA at Home? It's definitely not legal
  

kitco.com

• Live Gold Prices
  

How To

Precious metals approved by the IRA

IRA-approved valuable metals can be great investments. Many options are available that can diversify your portfolio while protecting against inflation. These include silver coins, gold bars, and silver coins.

Precious metal investment products come in two main forms. Physical assets such as coins and bars are called physical bullion because they can be physically accessed. Exchange-traded Funds (ETFs), however, are financial instruments that track and report the price movements in an underlying asset. ETFs can track the movement of gold or other metals. ETFs trade just like stocks, and investors can purchase shares from the company that is issuing them.

There are many types of precious metals that you can purchase. Silver and gold are frequently used for ornaments and jewelry making, while palladium and platinum are more often associated with luxury items. Palladium tends to hold its value better than platinum, which makes it ideal for industrial uses. Although silver is useful for industrial purposes it is preferred for decorative uses.

Due to the expense of mining and refining natural materials, physical bullion is more expensive. These products are generally safer and more secure than paper currencies. One example is that consumers could lose trust in the currency, and may look for other currencies if the U.S. Dollar loses its purchasing power. However, physical bullion products don't rely on trust between nations or companies. Instead, they are backed up by central banks and governments giving customers peace-of-mind.

Gold prices fluctuate based on supply and demand. The price of gold will rise if there is more demand. Conversely, a decrease in supply can cause the price to fall. This dynamic opens up opportunities for investors who want to profit from fluctuations of the price gold. This fluctuation is good news for investors who own physical bullion items as they earn a higher return.

Precious metals, unlike other investments, are immune to economic recessions or changes in interest rates. As long as demand remains strong, the price of gold will continue to rise. Precious metals, which are safe havens for times of uncertainty, are therefore considered to be safe havens.

The most popular precious metals include:

• Gold – Gold is the oldest type of precious metal and is often called “yellow metal.” While gold is a well-known element, it is very rare to find underground. Most of the world's gold reserves are in South Africa, Australia, Peru, Canada, Russia, and China.
• Silver – After gold, silver ranks second in precious metals. Silver, like gold, is extracted from natural deposits. Silver is extracted from ore, not rock formations, unlike gold. Because of its malleability and durability, as well resistance to tarnishing and conductivity, silver is widely used by industry and commerce. The United States produces over 98% of all global silver production.
• Platinum – The third most valuable precious metallic is platinum. It can be used in many industrial applications, including fuel cells, catalysts, and high-end medical devices. Dental crowns, bridges, and fillings can also be made from platinum.
• Palladium: Palladium is the 4th most valuable precious metallic. Manufacturers are gaining more interest in palladium due to its strength & stability. Palladium is also used for electronics, aerospace, military technology and automobiles.
• Rhodium – Rhodium is the fifth most valuable precious metal. Although rhodium is extremely rare, it is highly sought after because of its use in automobile catalysts.
• Ruthenium – Ruthenium ranks sixth in the list of most valuable precious metals. While there are only limited supplies of platinum and palladium, ruthenium is plentiful. It is used in steelmaking, chemical manufacturing, and engine design.
• Iridium – Iridium is the seventh-most valuable precious metal. Iridium is an essential component of satellite technology. It is used in the construction of orbiting satellites that transmit TV signals and telephone calls.
• Osmium: Osmium is eighth most valuable precious metallic. Osmium has a high resistance to extreme temperatures, which is why it is used frequently in nuclear reactors. It is also used in cutting tools, jewelry, and medicine.
• Rhenium – Rhenium is the 9th most valuable precious metal. Rhenium is used to refining oil and natural gas, in semiconductors, and rocketry.
• Iodine- Iodine ranks as the tenth most precious precious metal. Iodine can be used in radiography, photography, and pharmaceuticals.

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By: Donny Gamble
Title: 7 Best Gold IRA Companies 2023 (Ranked by customer reviews)
Sourced From: retirementinvestments.com/precious-metals/gold-ira-companies/
Published Date: Mon, 02 Jan 2023 08:22:00 +0000